The first social impact bond was launched in the Netherlands on 19 December 2013. ABN AMRO and Start Foundation have invested 680,000 euros in the Rotterdam initiative Buzinezzclub.
This company is helping 160 unemployed youth in Rotterdam with no basic qualifications get a job or go back to school, enabling them to move off state benefits faster.
According to the initial results, the first social impact bond is a success. Of the first group of 80 participants involved, more than half (47) are no longer on benefits. This number could increase, as some young people are still in the process of applying for a job. The second project with the other 80 participants is still running, and the results are expected to be even better. More information is available in the press release issued by the city of Rotterdam (in Dutch only).